Edgestream Partners L.P. Acquires 424,885 Shares of Hawaiian Electric Industries, Inc. $HE

Edgestream Partners L.P. increased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 110.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 810,140 shares of the utilities provider’s stock after buying an additional 424,885 shares during the quarter. Edgestream Partners L.P. owned 0.47% of Hawaiian Electric Industries worth $8,612,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HE. US Bancorp DE lifted its holdings in shares of Hawaiian Electric Industries by 51.2% in the first quarter. US Bancorp DE now owns 4,293 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 1,453 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Hawaiian Electric Industries during the 2nd quarter worth approximately $47,000. Allworth Financial LP lifted its stake in Hawaiian Electric Industries by 78.9% in the 2nd quarter. Allworth Financial LP now owns 4,605 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,031 shares during the last quarter. Byrne Asset Management LLC boosted its position in Hawaiian Electric Industries by 28.1% in the second quarter. Byrne Asset Management LLC now owns 4,981 shares of the utilities provider’s stock valued at $53,000 after buying an additional 1,094 shares in the last quarter. Finally, Comerica Bank grew its stake in shares of Hawaiian Electric Industries by 45.0% during the first quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after buying an additional 1,886 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group upgraded Hawaiian Electric Industries to a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, November 24th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.94.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $11.32 on Tuesday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -11.20 and a beta of 0.67. Hawaiian Electric Industries, Inc. has a twelve month low of $8.14 and a twelve month high of $13.41. The company’s fifty day moving average is $11.46 and its 200 day moving average is $11.25. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.52.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 7th. The utilities provider reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.39. The firm had revenue of $790.61 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. Sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.